- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-08-14T17:44:00
The U.K. Financial Conduct Authority (FCA) fined a Cyprus-based trading company more than 276,000 pounds (U.S. $354,000) for unfair customer treatment and providing unauthorized investment advice.
Forex TB Limited (FXTB), which sold complex leveraged financial products called contract for difference (CFD) to inexperienced investors, was prohibited from providing services in the U.K. in April 2021 and lost all permissions in October 2023, the FCA said in a press release Wednesday.
When FXTB, which also traded as Patron FX, serviced U.K. clients, the firms failed to treat customers fairly, and provided investment advice when they were not authorized to do so, the FCA alleged.
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2025-01-28T15:35:00Z By Aaron Nicodemus
Maria Aristidou Demetriou, chief compliance officer at Cyprus-based Hellenic Bank, spoke to Compliance Week about derisking in the Cypriot banking sector since Russian’s invasion of Ukraine and efforts to combat corruption, money laundering, and sanctions evasion.
2025-01-28T15:35:00Z By Aaron Nicodemus
Are there success stories in the international fight against money laundering and sanctions evasion? The island nation of Cyprus is making its case.
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2025-03-27T13:11:00Z By Jeff Dale
The U.K. Financial Reporting Council issued penalties against PwC and a former auditor over deficiencies on work related to the 2019 financial statements of now shuttered Wyelands Bank.
2025-03-27T12:49:00Z By Aaron Nicodemus
Yet another government contractor has been slapped with a fine by the Department of Justice for applying lax cybersecurity defenses on sensitive government data.
2025-03-26T18:48:00Z By Oscar Gonzalez
The European Commission released its preliminary findings last week regarding Apple and Google not complying with the Digital Markets Act. It issued orders to both companies regarding their business practice and plans to release all of its findings next week.
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